During the same shoot for the video on OTC clearing, I spoke with CME about the demand for data center space in financial services and how that impacts their strategy for the new Aurora, IL data center.
Its no secret that CME is one of the few firms in contention to be a major interest rate swap and CDS clearinghouse. This is a promotional video from CME that I make a quick cameo in, talking about the eventual growth in demand for swaps as the industry gets past the short term pain… Read More »
Here’s more proof that the exchanges are quickly becoming technology companies – if they’re not already. This network sounds oddly like NYSE’s SFTI. Nevertheless, its easy to see how this makes sense for CME and should generate them even more revenue beyond the $45 million they already make on this kind of service: Traders striving… Read More »
This week the CME and New York Portfolio Clearing (NYPC) both made announcements related to how they’ll help clients by allowing them to cross margin various interest rate related products. Bloomberg News does a good job of explaining the whole thing here. TABB’s research director and I debate the merits of both proposals and try… Read More »
Execution and clearing mandates for OTC derivative trades are still nearly a year a way by my estimates, but the Street is already getting ready. While Deutsche Bank and Bluemountain Capital executed CDS trades through Tradeweb and cleared via the CME and ICE, Barclays was busy rolling out its new electronic CDS trading product for… Read More »